CD Loans Sample Clauses
The "CD Loans" clause defines the terms and conditions under which loans are made that are linked to certificates of deposit (CDs). Typically, this clause outlines how interest rates for these loans are determined based on prevailing CD rates, the procedures for drawing and repaying such loans, and any specific requirements or limitations related to their use. By establishing clear rules for CD-based lending, this clause ensures predictability for both lenders and borrowers, and helps manage interest rate risk associated with these types of loans.
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CD Loans. The Borrower may, upon giving a Prepayment Notice to the Administrative Agent at least two Domestic Business Days before the date of prepayment, prepay any Group of CD Loans on any Domestic Business Day in whole, or in part in amounts aggregating $5,000,000 or any larger multiple of $1,000,000. Unless such Loans are prepaid on the last day of an Interest Period applicable thereto, the Borrower shall comply with Section 2.17 in connection with such prepayment.
CD Loans. Each CD Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the applicable Fixed CD Rate. Such interest shall be payable on the last day of the Interest Period therefor and, if such Interest Period is longer than 90 days, at intervals of 90 days after the first day thereof.
CD Loans. Effective immediately, CD Loans shall no longer be available under the terms of the Agreement.
CD Loans. Borrower agrees to pay interest calculated on the basis of actual days elapsed in a year consisting of 360 days with respect to the unpaid principal amount of each CD Loan from the day the proceeds thereof are made available to Borrower until maturity (whether by acceleration or otherwise), at a rate per annum equal to the lesser of (i) the Maximum Rate, or (ii) the CD Rate. Interest with respect to each CD Loan shall be payable on the expiration date of each Interest Period applicable to such CD Loan.
CD Loans. If the Borrowing Agent shall have elected to pay interest on any Revolving Loan at a CD Rate (such Loan, a "CD Loan"), the Co-obligors shall pay interest on such CD Loan to the Lender for the Interest Period applicable thereto at a rate per annum which equals the lesser of (i) the CD Rate or (ii) the Maximum Rate.